Christie makes pitch to CEOs

By HUGH R. MORLEY

STAFF WRITER |

The Record

Governor Christie is reaching out to CEOs, talking up the state as part of his pledge to make economic development a top priority of his administration.

On Monday, for instance, he called the CEO of PNY, a Parsippany-based manufacturer of flash memory drives, which is mulling whether to expand in New Jersey or leave for Allentown, Pa., said officials at the New Jersey Economic Development Authority.

Michael Drewniak, Christie's spokesman, said the governor has called a variety of companies since taking office on Jan. 19, from Fortune 500 companies to smaller businesses.

"He's picked a day here and there when he can — he fits them into his schedule," Drewniak said, adding that Christie has made seven or eight calls so far. "He'll spend a couple or three hours doing it."

The idea of the governor and Lt. Gov. Kim Guadagno making a regular schedule of calls to CEOs and other decision makers was suggested in the transition report by the governor's subcommittee on Economic Development and Job Growth.

The report called for the pair to make a "religiously adhered to commitment to make four calls each week, two to "prospects" and two to "incumbent" companies."

Caren S. Franzini, chief executive officer of the New Jersey Economic Development Authority, said Gov. Jon Corzine made some CEO calls — especially as part of efforts to persuade companies to expand or to move into the state.

But Christie has adopted a much more systematic approach, she said.

"It's part of being pro-active," she said. "He's competitive, and he knows that we need to be competitive globally, as well as domestically." She added that Guadagno has also made calls.

She said the target companies are picked by EDA officials, who provide Christie and Guadagno with background. Drewniak said the calls are set up in advance.

Some calls are to companies thinking of leaving, or moving into, the state, but others are merely intended to discuss business and economic issues, said Jerry Zaro, Corzine's former chief of economic growth, who has stayed on under Christie.

The PNY case pits New Jersey's economic development efforts against those of Pennsylvania, where Gov. Edward G. Rendell has been particularly aggressive in courting companies in his state and luring new ones.

After his election, Christie and Guadagno traveled to Fairless Hills, Pa., to meet with Rendell, a Democrat, discussing issues including tourism and regional economic development.

Christie spoke to PNY CEO Gadi Cohen on Monday for about 15 minutes, Zaro said. He described the conversation as "in-depth, serious" with "not a lot of platitudes."

Still, he and Franzini said it is not yet clear whether PNY will stay in the state.

PNY has outgrown its 150,000-square-foot facility in Parsippany, EDA officials said. The company is considering moving to a 42-acre property, also in Parsippany, formerly occupied by Pfizer, EDA officials said.

The company's application to EDA for a benefit package says the project would cost $28.5 million and would house the company 325 existing employees and add 100 jobs.

On Tuesday, the EDA approved a package of tax breaks and benefits worth nearly $1.7 million if the company stays in New Jersey.

"This is a key initiative to convince them to stay and grow in New Jersey," Franzini said.

Christie makes pitch to CEOs

Governor Christie is reaching out to CEOs, talking up the state as part of his pledge to make economic development a top priority of his administration.

On Monday, for instance, he called the CEO of PNY, a Parsippany-based manufacturer of flash memory drives, which is mulling whether to expand in New Jersey or leave for Allentown, Pa., said officials at the New Jersey Economic Development Authority.

Michael Drewniak, Christie's spokesman, said the governor has called a variety of companies since taking office on Jan. 19, from Fortune 500 companies to smaller businesses.

"He's picked a day here and there when he can — he fits them into his schedule," Drewniak said, adding that Christie has made seven or eight calls so far. "He'll spend a couple or three hours doing it."

The idea of the governor and Lt. Gov. Kim Guadagno making a regular schedule of calls to CEOs and other decision makers was suggested in the transition report by the governor's subcommittee on Economic Development and Job Growth.

The report called for the pair to make a "religiously adhered to commitment to make four calls each week, two to "prospects" and two to "incumbent" companies."

Caren S. Franzini, chief executive officer of the New Jersey Economic Development Authority, said Gov. Jon Corzine made some CEO calls — especially as part of efforts to persuade companies to expand or to move into the state.

But Christie has adopted a much more systematic approach, she said.

"It's part of being pro-active," she said. "He's competitive, and he knows that we need to be competitive globally, as well as domestically." She added that Guadagno has also made calls.

She said the target companies are picked by EDA officials, who provide Christie and Guadagno with background. Drewniak said the calls are set up in advance.

Some calls are to companies thinking of leaving, or moving into, the state, but others are merely intended to discuss business and economic issues, said Jerry Zaro, Corzine's former chief of economic growth, who has stayed on under Christie.

The PNY case pits New Jersey's economic development efforts against those of Pennsylvania, where Gov. Edward G. Rendell has been particularly aggressive in courting companies in his state and luring new ones.

After his election, Christie and Guadagno traveled to Fairless Hills, Pa., to meet with Rendell, a Democrat, discussing issues including tourism and regional economic development.

Christie spoke to PNY CEO Gadi Cohen on Monday for about 15 minutes, Zaro said. He described the conversation as "in-depth, serious" with "not a lot of platitudes."

Still, he and Franzini said it is not yet clear whether PNY will stay in the state.

PNY has outgrown its 150,000-square-foot facility in Parsippany, EDA officials said. The company is considering moving to a 42-acre property, also in Parsippany, formerly occupied by Pfizer, EDA officials said.

The company's application to EDA for a benefit package says the project would cost $28.5 million and would house the company 325 existing employees and add 100 jobs.

On Tuesday, the EDA approved a package of tax breaks and benefits worth nearly $1.7 million if the company stays in New Jersey.

"This is a key initiative to convince them to stay and grow in New Jersey," Franzini said.